Protecting Consumers from Financial Scams and Frauds

With the rapid development and adoption of digital financial products, services and distribution channels, many countries are experiencing a significant increase in the frequency and complexity of financial scams and frauds targeting consumers. This report aims to understand the drivers of financial scams and frauds and identify effective approaches to prevent and detect them by analysing the perspectives of financial policymakers, regulators and supervisors globally. The report also puts forward a typology of the different financial scams and frauds targeting consumers to help public authorities better classify and leverage reported data.